We finally have some decent statistics!
At last we’re now getting some decent statistics about the change in location for house purchasers. Research by Hamptons International and reported in The Times over Christmas tells us homebuyers leaving London has hit a 4 year high and Londoners bought 73,950 homes outside of the city this year.
In total this amounted to £27.6 billion worth of property bought outside London this year, with twice as many sales in the second half of the year as the first. People are also moving further than before, with the average distance at 40 miles for the first time in more than a decade. This is fantastic information for property investors as we can now set our parameters to include this new data. As usual knowledge and information is key and allows us to apply a fact and formula to an investment decision. This is very helpful because it makes our research more accurate but also helps to take any emotional angst out of the investment decision. Also it now means that people who want to sell their property in the home counties are more likely to attract a London buyer and potentially get a better price.
There’s great property investing times ahead!